How much interaction do the "mass rich" have with the super-rich?

[Anonymous]

Hi

[Anonymous]

Hi

[Anonymous]

Anonymous wrote:

Anonymous wrote:I took the same classes as their kids in college ($$$ private school). Studied abroad with some of them. They weren't really interested in being friends or even that friendly (I was kind of clueless and went into some of the smaller classes thinking I would make friends). It became clear they only hang out with those like them. Meh, whatever.

Similar experience at a small $$$$ private college. The super rich kids were both protective and protected. They didn't attend parties or engage in classroom chat. They had their own off-campus homes to hold private parties and spent most weekends away. One time I told a girl I liked her dress (she was not famous; in fact I didn't know her name or anything about her) at a formal event for students at the medical school of the closest big university. I recognized her from campus. She looked at me like I just shat on the floor in front of her.

Can't buy class. Class treats people, no matter who, decently.

[Anonymous]

To put it in perspective, how often do you (UMC) hangout and socialize with your landscaper? ...not the owner but the guys cutting your lawn? The is a far greater difference between someone with $80million+ Net Worth and your, say, $2 million NW than between your $2 million NW and that of your landscaper’s.

The ultra wealthy are an entirely different stratosphere of power and influence able to affect many areas of our society and future.

The UMC and lower wealthy live luxurious lives compared to most but still have little or no power in comparison to the ultra wealthy.

[Anonymous]

Anonymous wrote:To put it in perspective, how often do you (UMC) hangout and socialize with your landscaper? ...not the owner but the guys cutting your lawn? The is a far greater difference between someone with $80million+ Net Worth and your, say, $2 million NW than between your $2 million NW and that of your landscaper’s.

The ultra wealthy are an entirely different stratosphere of power and influence able to affect many areas of our society and future.

The UMC and lower wealthy live luxurious lives compared to most but still have little or no power in comparison to the ultra wealthy.

+1

limited choices = limited power

[Anonymous]

Anonymous wrote:To put it in perspective, how often do you (UMC) hangout and socialize with your landscaper? ...not the owner but the guys cutting your lawn? The is a far greater difference between someone with $80million+ Net Worth and your, say, $2 million NW than between your $2 million NW and that of your landscaper’s.

The ultra wealthy are an entirely different stratosphere of power and influence able to affect many areas of our society and future.

The UMC and lower wealthy live luxurious lives compared to most but still have little or no power in comparison to the ultra wealthy.

All the time. My landscaper is a nice guy. Got him his largest gig in a whole condo development and talk to his crew.

[Anonymous]

PP and that is my point - UMC is financially and socially positioned FAR closer to any income level below them than to the ultra-rich. ...but a huge margin.

[Anonymous]

PP meaning except for chit chat and lawn-related business most UMC are not regularly interacting with their household/lawn contractors (including them in friend and family weekend activities as guests/club activities/kid play dates) yet UMC is MUCH closer to this economic level than to the ultra wealthy. So, it makes sense that few people outside the ultra wealthy interact with them.

[Anonymous]

“BY a huge margin”

[Anonymous]

Anonymous wrote:What is really rich?

Is it anyone over 100 million?

Most don’t comprehend the magnitude of the differences between wealthy and billionaire. $100 million is not even in the ballpark.

[Anonymous]

Anonymous wrote:I grew up professional class rich. Both parents are doctors...probably high six figure/very low seven figure HHI. Growing up, their friends were pretty much all like them.

At some point, though, their very close social circle came to include a couple Forbes list people. They are immigrants from the same country as my parents who are self-made. Without the cultural connection, though, I'm doubtful my parents would ever know let alone socialize with people like that.

I knew some Forbes list families through very specific religious circles. My ex was Jewish and from the Upper East Side and his parents were very active in that community so he knew them from Jewish camps, synagogue, Jewish charity events, etc. So we got invited to ridiculous bar/bat mitzvahs and weddings.

Interestingly enough my own family is not Jewish but includes some people who are very active in the Mormon community (donate a lot to BYU, etc.) so they know some super-rich Mormons.

[Anonymous]

Anonymous wrote:

Anonymous wrote:What is really rich?

Is it anyone over 100 million?

Most don’t comprehend the magnitude of the differences between wealthy and billionaire. $100 million is not even in the ballpark.

Super rich is billionaire, often multi-billionaire like Forbes list people

[Anonymous]

Anonymous wrote:^ This is why the "normal rich" can delude themselves that they're "middle class" in some way. After all they are "in the middle" between their secretary and the super-rich who feel they snub them.

Its bc most working professionals making 7 figures like law firm partner, surgeon, lobbyist, finance type grew up as upper middle class so they feel middle class and typically aren't big spender flashy types in this area. These are not typically trust fund types, but smart people from educated upper middle class backgrounds. The trust fund types typically have much lower paying jobs, like working at nonprofits or in the media. They don't need the $$ so don't need/want those long hours professional jobs.

[Anonymous]

Anonymous wrote:I'd say I fit the definition of mass rich, and the only interaction I have with the super rich is interacting weekly with the CEO of the company I work for. He's worth at least 50M.

Some professions are likely going to have more interactions - attorneys, financial planners, concierge doctors, high-end hospitality, etc. But for an average professional without a career tied to the ultra wealth, probably not a ton of interaction.

Same here -- interaction is through work. I work in the legal department at a large corporation. We work with our top execs about once per month. According to SEC filings (some of which I help to edit prior to filing), our CEO's annual com is over $10 million, and his stock alone is worth about $100 million. I'm not sure if that constitutes super rich.

BTW, our CEO is a wonderful person and very classy and modest. He came from a nice middle class family, and earned his way to success through hard work.

[Anonymous]

I think super rich means that you don't fly commercial and that what you spend on PJ's is of little concern. Our net worth is over $50 million and it was just a few years ago that we started flying first class. We have a lot of wealthy friends but none fly on PJ's except on rare occasions.